N ASSA U AND BAHAMA ISLANDS LEADING NEWSPAPER V olume: 107 No.126TUESDAY, APRIL 26, 2011 PRICE 75 (Abaco and Grand Bahama $1.25 W EATHER CLOUDY, BREEZY HIGH 86F LOW 77F PRIME Minister Hubert I ngraham addressed the nation yesterday, giving an update on h is governments plans for the redevelopment of New Providence in what he called the most ambitious transformation and modernisation programme e ver in Bahamian history. Describing his administrations ambition to transform and modernise the island as unprecedented, Mr Ingraham said when all is said and d one, and after the disruptions are over, Bahamians will havea new capital island that will provide a better quality of lifef or all. The Prime Minister said when the works are completed, N assau will be one of the most modern, efficient and cleanest capital cities in the Caribbean. M r Ingrahams government h as been criticised over the past four years for many of the changes it introduced to thei sland, including the improvements to Saunders Beach and the construction of the new c ontainer port at Arawak Cay. The FNM has also been constantly dogged by the inconve niences cased by the New P rovidence Road Improve ment Project. However the nations chief defended his party yesterday, saying the alternative to the temporary disruptions is to have never begun the work int he first place and to have allowed the islands infrastructure to decay even further, choking economic growth, creating even more urban prob lems and allowing the Bahamian people to live with suband below-standard public ameni ties. A responsible government could not continue to follow the path of least resistance,delay and procrastination. We had to act, and act now to secure a better future for ourselves and our children, Mr Ingraham said. Among the highlights of the Prime Ministers speech was s ome of the changes his government plans to introduce to t he 300-year-old city of Nassau. One of his goals, he said, is to expand and enhance open spaces, green spaces, beacha reas and parks to provide children, young people and families with safe, modern recreational amenities. To that end, he said the competition of the new Straw M arket will make way for the creation of a major urban park on the site of the tent which now houses the Straw Market. The government is also s imultaneously undertaking a comprehensive and systematic upgrade of the Supreme Court building, and the Hanzard, Senate and Parliament build ings. The recently-acquired Ansbacher building is being renovated to better accommo date additional courts and the Supreme Court Registry. Mr Ingraham said that the removal of all freight terminals from Bay Street and their relo cation to Arawak Cay is the linchpin for the various elements of the revitalisation of TRY OUR D OUBLE M cFISH The Tribune THEPEOPLESPAPER BIGGESTANDBEST L ATESTNEWSONWWW.TRIBUNE242.COM www.fidelitygroup.comCall 356.7764today! Get out of Debt Fast with a Fidelity Fast Track Debt Consolidation loan. Decisions Fast Money Fast Plus Visa Credit Card FastGetoutofdebt Fast! GOLDEN AGE n PM ANNOUNCES AMBITIOUS TRANSFORMATION OF NASSAU n Y OUNG BAHAMIANS LAND MEDAL HAUL AT CARIFTA GAMES M EDALGLORY By ALISON LOWE Business Reporter alowe@tribunemedia.net THE newly-formed Peoples Deliverance Party (PDP ership hopeful Paul Moss as its leader and intends to run a full slate of candi dates in the next general election, accord ing to sources within the grouping. The PDP already has 23 candidates lined up to run in constituencies throughout New Providence and the Family Islands and will have a markedly proBahamian platform. They intend to launch on May 24, said a source close to the party yester day. In addition to attorney, Mr Moss, Grand Bahamians Troy Garvey, a former NDP member, and Glen Rolle, are said to both have taken executive posiWINNERS: OJayFerguson and Stephen Newbold (top left), gold and bronze medallists in the Under 20 boys 400m; Anthonique Strachan (above right), double gold medallist in the Under 20 girls 100m and 200m; Devynne Charlton (above left), gold medallist in Under 17 girls 100m. The Bahamas 70 member Carifta Games team stormed to an impressive 30 medal total (unofficially Anthonique Strachan became the first Bahamian to do the sprint double at the games since Shandria Brown in 2002. Jamaica repeat as cham pions with an unofficial total of 66 medals. SEE SPORTSSECTIONFORFULLSTORY By AVA TURNQUEST Tribune Staff Reporter aturnquest@tribunemedia.net POLICE have charged a man in connection with one of two murders which took place over the holiday weekend. According to Sgt Chrislyn Skippings, police press liaison, the 25-year-old who is charged with the murder of Tekoyo McKinney is expected to appear in court today. Mr McKinney was gunned down at around 11pm on Thursday by two men while in front of a house in the area of Cordeaux Avenue and Minnie Street. Police have named 29-year-old Earnest Forest, a Sea Breeze Lane and Mollie Street resident, as someone By ALISON LOWE Tribune Staff Reporter alowe@tribunemedia.net IT IS critical for the Bahamas as a destination that a disconcerting trend that saw the cost of flights from major US hubs to Nassau rise by an average of 41 per cent in February over last year be addressed, said Kerzner Internationals Bahamas president. In an exclusive interview with The Tri bune yesterday, George Markantonis said the company that owns and operates Atlantis has noticed worrisome increases over the last year in the cost of travel to The Bahamas by air. My criticism isnt that the airlines dont know what they are doing. I think they are SEE page 12 SEE page 10 SEE page 12 NEW POLITIC AL P ARTY ELECTS PAUL MOSS AS ITS LEADER T WO MEN GUNNED DOWN IN WEEKEND SHOOTINGS KERZNER CHIEF: RISING COST OF TRAVEL TO NASSAU MUST BE ADDRESSED SEE page 10 TRANSFORMATION: Hubert Ingraham P h o t o s / S t a n l e y M i t c h e l l

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By AVA TURNQUEST Tribune Staff Reporter aturnquest@tribunemedia.net PRIME MINISTER Hubert Ingraham underscored the critical need for the Bay Street infrastructure upgrades set to begin tonight. Meanwhile, merchants offered mixed views on the affect it would have on sales in the area. During his address to the nation yesterday, Mr Ingraham called on the public to exercise patience in the governments bid to effect vital utility upgrades. Mr Ingraham said: It is critically essential for major water and sewerage work to be undertaken on Bay Street from Nassau Court to Mackey Street and a number of side streets. These works can no longer be postponed. I know that during these works many people are being inconvenienced. I apologise to residents and businesses impacted by these necessary infrastructural upgrades. The works will be completed in three phases, with the first phase estimated to take 20 weeks. Upgrades will affect Bay Street between Marlborough/Nassau Court and Parliament Street, and continue until October 19. Second phase upgrades will continue to Victoria Avenue until March 13, and will be suspended from December 12 to January 2. The last phase of works, which extends to Mackey Street, is estimated to take 25 weeks. Mr Ingraham said: Once completed, Bay Street and our city centre will be at a standard appropriate for our capital City of Nassau and will put us in a better position to meet new challenges expected in the tourism sector. The infrastructural work we are doing is essential. We cannot allow our capital city to fall into further decay. To do otherwise would put at risk our economic well-being. While admitting the utility improvements were necessary, Bay Street merchants said they were mostly concerned with management of dust and debris from road works. Speaking to The Tribune last week, most merchants felt a dusty environment would be a deterrent to visitor and local traffic. Its going to be a challenge for us, said Guenix Cherenfant, general manager of Del Sol. If its similar to anything on Robinson Road and the Market Street area, Im concerned because this is a high end area. Edward Robinson, proprietor of Boneville Bones, said the decrease of local patronage would be inevitable due to the reversal of traffic and road closures. However, Mr Robinson said he was encouraged by the choice of nighttime operation hours. Alexia Powell, manager of Caribongo, said: I dont think tourists would like to come off the ship and experience that kind of thing. Some business people who wished not to be named expressed confidence the works would not present a significant problem. Its not like people can park here anyway, a beverage store owner said. It wont be a problem at all. I dont think so. Road works will be active Sunday to Thursday from 7pm to 5am in an effort to minimise traffic disruptions on Friday and Saturday nights. The Prime Minister said that necessary upgrades, backfilling, reinstatement and clean up of the road also will be undertaken at the end of each work day. Mr Ingraham said: The works will require certain road deviations from time to time, and I ask once again for your patience and forbearance as we seek to modernise our capital city. When it is all done every one of us will benefit in terms of better utilities, better roads, better recreational spaces and a better environment. L OCAL NEWS P AGE 2, TUESDAY, APRIL 26, 2011 THE TRIBUNE PRIME Minister Hubert Ingraham has promised that, in short order, he will address the nation on crime, including the strengthening of existing facilities and the introduction of new measures to combat violent crime, an alarming murder rate, and a culture of criminality. Mr Ingraham said his government has already dedicated itself to modernising outdated and decaying infrastructure and installing measures such as CCTV to help bolster public safety efforts in the fight against crime. We are transforming New Providence and the historic City of Nassau into more than a world-class destination. We are seeking to make our capital island an urban centre that works in terms of basic infrastructure, and that is a safe and inviting envi ronment for artistic and cultural expression with an extensive network of parks, heritage sites and windows to the sea. PRIME Minister Hubert Ingraham (pictured of the important features of his governments overhaul of the infrastructure of New Providence will be the $30 million upgrade to the Princess Margaret Hospital. Mr Ingraham made the statement last night during his address to the nation. The Prime Minister said a new critical care block will be constructed at PMH at a cost of more than $30 million. It will include an Intensive Care ward for paediatric and adult patients, and six new operating theatres. Work is also being completed on a new Geriatrics and Child Rehabilitation Unit at the Sandilands Rehabilitation Hospital Restoring the heart of our nation is critical to ensuring continued growth and security of our economy. It is more than roads, sewers and utilities, it is the nerves and sinews, the very fabric of our national character. That is why we rehabilitate, restore and upgrade it, Mr Ingraham said. Ingraham: Bay Street upgrades are critical NEW MEASURES IN PIPELINE TO COMBAT VIOLENT CRIME, SAYS INGRAHAM FIRST PHASE: Marlborough Street/Nassau Court upgrade. PM HAILS $30M BIDTO IMPROVE PMH

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PRIME Minister Hubert Ingraham gave an update on the progress of the New Providence Road Improvement Project during his address to the nation last night. He said he was painfully aware the project was very disruptive to the lives of many residents and business persons who live and work along affected road corridors, or who typically traverse them to and from their jobs. Mr Ingraham admitted that where work is nearly c omplete, additional refinements are required to improve access and parking for some business establishments. The Government began the New Providence Road Improvement Project in 2001. The postponement of the completion of the project between 2 002 and 2007 has resulted in an increase in cost of approximately $50 million, which is the total amount it will cost for two of the next phases in the redevelopment of the Queen Elizabeth Sports Centre. Work continues along Blue H ill Road north of Wulff Road and south of the Water Tower,and on Market Street, Robinson Road, Prince Charles Drive, Marathon Road, Abundant Life Road and Soldier Road. When the installation of the new 24-inch water main is completed along Robinson Road up to the intersection of Prince Charles Drive and Fox Hill Road, not only will users of that corridor (pedestrians and motorists) benefit from an improved roadway with sidewalks but residents in the eastern end of New Providence will finally have access to improved water quality and pressure. In the south, the installation of a new water main along Sol dier Road will improve water quality for communities along that corridor. The water works scheduled along Soldier Road will commence today, and take place in three phases: from Blue Hill Road to East Street, from East Street to Abundant Life Road, and finally from Abundant Life Road to Prince Charles Drive. To minimize traffic disrupt ions during peak day-time traffic and on weekend nights this work will be undertaken during the night, between 7pm and 5am, Sundays through Thursdays. The road will be reinstated and paved at the completion of each segment and before the commencement of the next seg ment of works. L ast week, the government signed a contract for road and utility upgrades that will augment the transformation of the Queen Elizabeth Sports Centre into a world class sporting and athletic complex. T hese upgrades, Mr Ingraham said are essential to make t he new Tommy A Robinson National Stadium operational and useable. Works being undertaken in the Oaks Field area include water and sewerage upgrades to the Yellow Elder and Millennium Gardensc ommunities and also electrical services upgrades through t he installation of new under ground utility lines. Road improvements resulting from that contract will include the following: An enhanced entrance with parks and open green spaces leading from Thompson Boulevard to the Sports Centre which will be linked to the Tonique Williams-Darling Highway along an enhanced Yellow Elder Way; A new road extending from a new roundabout at the Government High School that will link the Queen Elizabeth Sports Centre with the New Providence Highway now referred to as Bethel Avenue. An extension of Moss Road will link Thompson Boulevard and Blue Hill Road, w hile a new connector road will link Moss Road to the roundabout at the Government High School; and Considerable new parking areas, drainage systems, and landscaping throughout thee ntire area. Mr Ingraham said most of t he new road works in and around the QE Sports Centre will be greenfield operations with little to no impact on the present flow of traffic. The Prime Minister said improvements to the currentr oad leading to the Government High School will not comm ence until after the end of the school year and it is anticipated that the works will be completed ahead of school opening in September of this year. A new four-lane corridor, to be named the New Providence Highway, was constructed on a greenfield site. The highway links Saunders Beach in the north with JFK Drive at the sixleg roundabout and continues southward to the Tonique Williams-Darling Highway roundabout, where it connects with the Milo Butler Highway l eading to Carmichael Road. In time the New Providence Highway will be extended to Cow Pen Road. The government will soon commence the new four-lane Airport Gateway Highway, the first phase of which will link the LPIA to the new six-leg roundabout. In the west, Bay Street is being diverted at or near the Development Bank to facilitate the redevelopment of Cable Beach by Baha Mar. The new diverted West Bay Street will be connected to JFK Drive by a n ew connector road extending to the intersection with Gladstone Road. Other improvements to a number of street junctions along West Bay Street are also scheduled. In the East, improvements are scheduled for a number of street junctions along the East Bay Street corridor: East Bay/Village/ Shirley Street; East Bay/Newgate; East Bay/Johnson Road; East Bay/Fox Hill Road; and also at the William/Shirley Street and the Village/Soldier Road inters ections. LOCAL NEWS T HE TRIBUNE TUESDAY, APRIL 26, 2011, PAGE 3 PM: Im painfully aware project is disruptive NEW PROVIDENCE ROAD IMPROVEMENT PROJECT D IGGINGIN: W ork continues on the road improvement project.

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EDITOR, The Tribune. I have procrastinated long enough with this. During the month of January, I witnessedt hree young men rough up and rob a young man at a bus stop on Farrington Road. Despite verbal attempts by me, and others who paused to witness the evil act, the perpetrators did not stop until they had taken all items of value. These included his shades, monies and cell phone. After they took all of his possessions and ran, the young man decided to run after them. After witnessing this evil act, I drove east to the end of Farrington Road. I then turned around and drove the entire length of Farrington Road, onto JFK Drive as far as Prospect Ridge. Sadly, I did not see one Police vehicle, and this is a common occurrence. Can we please ask Commissioner Greenslade if this is his idea of effective policing? W e saw several weeks ago how they ensured that ZNS covered the story when a patrol car just happened to be on the scene when the young man attempted to stab his ex to death. In that particular incident, the young lady was blessed, but in the vast majority of cases there is no patrol car in the vicinity. We must not allow ourselves to be brainwashed by what they feed us. The fact of the matter is that despite the new patrol cars and motorbikes, our police force continues to perform poorly. Our streets are plagued withr oad rage, and disregard and/or disrespect for others is the order of the day. It is common to witness people run traffic lights with reckless abandon. In the United States and other progressive Caribbean nations, it is common to see police cars and speed cops patrolling every major street and crime ridden a reas. This is effective policing as it is a deterrent to criminal activity and traffic offenders. It also reduces the time it takes the first responder to arrive at a crime scene. What is common in our country however is to see police cars being used as personal transportation. Persons have told me of things they have witnessed being done in these cars, and I encourage them to tell the nation via talk shows and yourselves. It is therefore no surprise to hear persons call talk shows complaining that police stations tell them there are no cars available to respond to their urgent matters. This needs to be corrected forthwith! In an effort to ensure his s afety, I notice that the parents of the aforementioned young man have resorted to dropping him to work. It bothers me to see the same three young men walking about as though they have done no wrong; perhaps scouting prospective prey. We are mindful that the crime wave s peaks to the moral and spiritual decay in our country that also needs to be addressed. This, however, does not negate the lack of effective policing. Operation Rapid Strike is good in its place as a piece of the puzzle. Effective policing h owever is a daily, pro-active exercise. We are aware that the police control room is capable of monitoring the whereabouts of every patrol car, yet for some strange reason it is not being done. The control room needs to be managed by committed, seasoned, impartial officers. It m ust be made crystal clear, if you are not on official police business, you should not be in possession of a police vehicle. The fact of the matter is we have a lot of officers at all ranks that are not committed to doing the job for which they are being paid. I would be remiss if I did not say a few words about the dif ference in the way traffic flows when there is police interfer ence. Most of us have accepted the fact that heavy traffic is synonymous with the large popu lation on such a small island. W hat is also a fact is that even during rush hour, there are very few places where there is no consistency in the flow of traffic. These include areas in the east such as Seabreeze where I've heard persons call radio stations and ask for Police assis-t ance with the traffic flow. Whenever we sit in traffic without movement for minutes, we can rest assured that there is either an accident or Police interference. We can all attest to the fact that there is generally an orderly flow of traffic at roundabouts and areas where there are working traffic lights. There is no need for Police interference in these areas. This includes the junction at Bay and Frederick Streets where the traffic is always severely backlogged and moves very, very slowly when directed by them. I recall the police doing this in the 1970s, and it worked well back then as there was very little traffic. We must appreciate that it is very counter-productive today. They can, however, assist persons with when to cross the street in light of the fact that our walk/dont walk signs do not work. They should also keep a keen eye on offenders to the orderly flow of traffic.I encourage the commissioner and his team to study the way the traffic moves with and without them, with the view of minimising their interference to areas where traffic flow is stifled. I have heard numerous persons call talk shows and radio stations in general and complain about this over the past few years to no avail. It is high time that we as a people activate an effective neutralizer for the arrogance and blatant disregard for what we say that is demonstrated by our police and politicians. In conclusion, I encourage all of us to praise our police when they perform well. We must also sound the alarm when they are not performing up to par until they get it right. Other concerns include cor ruption in the complaints unit, dereliction of duty, and the general disrespect given to the average Bahamian. We, the people of the Bahamas deserve better, and we need to know if Commis sioner Greenslade and Minis ter Turnquest are capable of getting the job done. These are just a few reasons why we must mandate that the Commissioner of Police be chosen by us. V ERY CONCERNED CITIZEN! Nassau, April 14, 2011. E DITORIAL/LETTERS TO THE EDITOR P AGE 4, TUESDAY, APRIL 26, 2011 THE TRIBUNE The Tribune Limited NULLIUS ADDICTUS JURARE IN VERBA MAGISTRI Being Bound to Swear to The Dogmas of No Master LEON E. H. DUPUCH, Publisher/Editor 1903-1914 SIR ETIENNE DUPUCH, Kt., O.B.E., K.M., K.C.S.G., (Hon. Publisher/Editor 1919-1972 Contributing Editor 1972-1991 EILEEN DUPUCH CARRON, C.M.G., M.S., B.A., LL.B. Publisher/Editor 1972Published Daily Monday to Saturday Shirley Street, P.O. Box N-3207, Nassau, Bahamas Insurance Management Building., P.O. F-485, Freeport, Grand Bahama W EBSITE www.tribune242.com updated daily at 2pm THE Emergency Department of the Princess Margaret Hospital has always been under pressure. However, between the international economic crisis, which has affected all areas of Bahamian society, the growing crime rate that fills the emergency rooms with many critical cases, and the failure of many citizens to understand that a change in lifestyle could save them a long wait in Accident and Emergency the hospitals crisis is now almost unmanageable. Of course, those clinging to life after being knifed or shot will always get immediate attention, while others moaning and groaning in agony wait patiently on the benches for their turn to see a doctor. Many leave in frustration. Because of the emergency crisis that has thrown the world into chaos, many persons who could once afford a private doctor are now showing up at the public hospital, adding to the pressure. In November Chief Hospital administrator Coralie Adderley tried to assure the public of the hospitals commitment to addressing their concerns and improving the hospitals services. She said that upon arrival at Accident and Emergency (A&E and then categorised according to the severity of their complaints. Patients not experiencing life-threatening ailments will natural ly have the longest wait to see a busy doctor. Dr Sarah Friday, Chief of Accident and Emergency, admitted that a part of the departments current challenges was a need to improve patient relations services and physician and nursing staff levels. We might add that it would also help if the information given to patients was consistent and not vary from nurse-to-nurse or doc tor-to-doctor. To illustrate our point we will give a synopsis of a day in the life of a diabetic patient at A&E on Good Friday. The lady went to the department complaining of what she described as severe chest pains. She was accustomed to going to the Elizabeth Estates clinic, where, because of her diabetic condition she always got prompt attention and immediate treatment. Howev er, there have been times after a treatment, that the clinic staff have sent her away, instructing her to return the next morning for tests. For these tests she had to be fasting. Diabetics have to be very careful about the l ength of time they go without food because of the danger of lapsing into a coma. Knowing she had to take tests and not wanting to make another trip to PMH, she arrived at the hospital a 7:45am Friday having only cleaned her teeth. She was fasting. She registered at the desk, and said what her complaint was. Her file was checked she was also a PMH patient so she did have a c omplete file, which dealt mainly with her diabetes. She was told to go and sit down. She sat where she was told. At about 9am a nurse took her to a back room, where she again said she was a fasting diabetic. The nurse asked why hadnt she gone straight to the back room, where diabetic patients were sent for more prompt attention. Her reply was that she had tried that before and got into trouble, so she was just doing what she was told to do and that was to sit in the front until her turn came. According to Hospital Administrator Adderley upon arrival at A&E a patient is meant to be assessed and categorised. If this had been done correctly this patient would have been sent immediately to the back room. However, in the back treatment room at last, she still sat another two hours beforea nurse took her pressure, which was high and her sugar, which was also high at 276. Again she waited another two hours before she was taken to another room for an ecocardiogram. This was followed by a wait of almost three hours when in desperation she asked a person she thought was a doctor if she could get a bite to eat. He told her no, because she might have to have another test. However, when the staff changed shifts, she approached another doctor who gave her permission to eat. Her sugar was then taken. Although still high it had dropped from 276 to 239. However, her blood pressure remained at the same high level. Eventually at 6pm her name was called. When the doctor looked at her chart, saw that, other than having her pressure taken, she had received no treatment, he seemed alarmed. He wanted to know what she meant by not eating. He asked her if she wanted to be like the case that they had had that very day. According to what she was told an elder ly gentleman came in, and like her had not taken his pills and was fasting. As he sat and waited he fell into a coma, from which they could not revive him. She interpreted that to mean that he had died, having probably gone through exactly what she had gone through from 7:45am. The doctor impressed upon her that no matter what anyone had told her she should never go without food. If she had to go for tests, she should always have a snack with her. It would certainly help patients if the information they were given were consistent, w hether coming from a nurse or from a doctor. Surely even a layman would know that no diabetic should fast for the length of time that this woman had fasted. As the poor woman said: First they say I cant do it, then they tell me its dangerous if I dont do it. I am just so confused. This is what adds to a patients frustra tions and it is something so basic that surel y it can be avoided. Bahamas police force continues to perform poorly LETTERS letters@tribunemedia.net Attention to the little things could help 63(&,$/ EDITOR, The Tribune. It is a known fact that the majority of Bahamians have resorted to being parasites. We unfortunately would prefer to hustle rather than work, we would prefer to borrow and not pay back. We prefer to join asue and disappear after we get our draw. We would literally kiss up to get money, including things rather than work and get what we want on our own. We unashamedly want something for nothing. The government has built the much-awaited, much-talked about, much-dreamed about and much-anticipated Straw Market. This government venture is planned to be a cultural place where artists and artisans can not only sell, but display their treasured work showing tourists what Bahamians are capable of and what rich culture we have. Since the fire that destroyed the market vendors, some of whom claim that they love the Bahamas and are patriotic, have strayed away from the original intent of having a straw market. They have disgraced the idea by turning it into a dump, selling just about anything that comes to their mind. The much publicized embarrassment experienced when some vendors were caught in the United States crosshairs, did precious little in deterring vendors from going down the road of counterfeit products. This singular ly proves that they are defiant in bucking authority and order. They are self-centred and selfish to put it mildly. A recent newspaper article said: In the new market, officials advised that only Bahamian goods will be sold, counterfeit products will be completely prohibited, vendor licenses will be restricted to Bahamian citizens, and rental charges will range from $200 to $250 per month, $46 to $58 per week or $6.50 to $8.20 per day. Now this has brought me to my real point of offering this opin ion: Are these vendors serious about having to pay for the rental of their stalls/booth? Do these vendors expect the government to splurge $10 million plus of our money just because they believe that they are so much more special than other Bahamians, many whom are not working at all? Do vendors expect to pay nothing, even though they brag about how good the market is to them and their entire family? How many business persons can operate in their respective venues without expecting to pay their way? Only parasites think like that. Come on, the high daily asue conducted every day is proof that business is not bad. The market belongs to all of us and no one should be exempted from paying. Those who refuse to pay should be immediately evicted and the stalls given to others who are willing to pay. I know several vendors who have a conscience would welcome this wonderful opportunity to not only make money, but to be a part of showcasing our beautiful country through arts and craft, would not mind giving back so that something could be in the treasury for our children and generations yet unborn. Let us put our selfishness and pettiness aside and work together, all of us, toward building a better Bahamas that we all can be proud of. Our children yet unborn would thank us later for being wise. IVOINE W. INGRAHAM Nassau, April, 2011. MAJORITY OF BAHAMIANS HAVE RESORTED TO BEING PARASITES

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B y DENISE MAYCOCK Tribune Freeport Reporter dmaycock@tribunemedia.net FREEPORT: A 24-yearold woman is in hospital fol l owing a shooting incident early Friday morning in Eight Mile Rock, which led police o n a high speed chase with a suspect in the Mack Town area. A ccording to reports, the w oman is listed in serious but stable condition. A 43year-old Jamaican is in policec ustody in connection with the shooting. Asst Supt Loretta Mack e y, press liaison officer, said that at about 4.22am on Fri day, officers of the Eight Mile Rock Police Division responded to reports of gunshots near the water tanks in the Jones Town area. O n arrival at the scene, o fficers received information that a man shot a woman who was walking with two men int he area. ASP Mackey said the gunman pointed his gun at the m en and forced them to put the injured woman in his vehicle and sped off. After receiving informa tion, police went in pursuit of the suspect who was driving a white 1997 Mitsubishi Galant. The suspect led police on a h igh-speed chase which ended i n Mack Town area after he crashed his vehicle in some large rocks. A lthough the gunman had escaped into nearby bushes, the female victim was discov e red inside the vehicle with a gunshot wound to her body. An ambulance was dispatched to the scene and took her to the Rand Memorial Hospital. Ms Mackey said Police conducted a search of the M ack Town area, but was u nable to locate the suspect. She said the K-9 Unit was called in to assist in thes earch. The suspect, a resident of Pine Forest, Eight Mile Rock, was discovered h iding in bushes. He was arrested and taken into custody. Investigations continue. LOCAL NEWS T HE TRIBUNE TUESDAY, APRIL 26, 2011, PAGE 5 POLICE are questioning 30 men as a result of sweeps conducted during operation Rapid Strike. Of the arrests, six were for outstanding warrants; two for illegal firearms; one for assault with a deadly weapon; four for possession of dangerous drugs; one for causing harm; one for a shooting complaint, another for shop breaking; three for armed robbery; four for housebreaking, and for a stolen vehicle. According to reports, investigators recovered a handgun, ammunition and a quantity of suspected marijuana during a search at Billow Lane, off Warren Street. A 21-year-old man was arrested after officers of the Central Detective Unit executed a search warrant at the apartment on Wednesday evening. Mobile patrol officers arrested two men on a motorbike in the Pinewood Gardens less than an hour later. After searching the two men, aged 23 and 20, police recovered a handgun and ammunition. Rapid Strike officers also recovered a quantity of suspected marijuana during a search of LM & Sons Food Store, Farrington Road. Anyone with information that may assist investigations is asked to contact police at 919, 322-3333, DEU at 323-7139/40 or Crime Stoppers at 328TIPS. POLICE are questioning a 43-year-old Abaco man in connection with a burglary and sexual assault in Nassau yesterday. The adult victim was attacked and robbed of a cell phone at around 2am. According to police reports, the victims family was able to capture and detain a suspect until police arrived. Police investigations continue. Meanwhile, police arrested two men aged 21 and 29 after recovering a handgun and ammunition from a car. The incident occurred in the area of Poinciana Avenue and Sixth Street, Coconut Grove, when police observed them acting suspiciously in a white Nissan Maxima. According to police, the driver sped off when officers attempted to stop the vehicle, and were finally apprehended at Market Street. Investigations continue. MAN QUESTIONED IN CONNECTION WITH A BURGLARY AND SEXUAL ASSAULT 30 QUESTIONED AFTER RAPID STRIKE SWEEPS P OLICENEWS Woman in hospital after shooting THE capital recorded two traffic fatalities as police moved to intensify enforcement of traffic laws over the holiday weekend. T wo vehicles collided at Yamacraw H ill Road, east of Fox Hill Road, early S unday morning. The incident, which involved a burgundy 2004 Toyota Corolla and a silver 2000 Suzuki Baleno, occurred around 5am. Sgt Chrislyn Skippings, police press l iaison, said: Initial reports indicate that t he driver of the Toyota Corolla was traveling west on Yamacraw Hill Road and the driver of the Suzuki Baleno east o n Yamacraw Hill Road when the two collided. The driver of the Suzuki Baleno was taken to hospital via EMS personnel where he is detained in serious condi-t ion. As for the driver of the Toyota Corolla, he succumbed to his injuries at the scene. T he second fatality occurred shortly a fter 7am yesterday. The driver of a silver 1998 Honda Civic died after he lost control of his car and collided with a tree. T he victim was driving west on Western Road, in the area of Lyford Hill. Sgt Skippings added: Police are invest igating and reminding all road users to d rive with due care and attention, obeyi ng all traffic laws. Hundreds of motorists received fixed penalty notices for violations in a massive effort by the traffic division and the seven policing divisions in the capital. S gt Skippings said: Over the weeke nd, officers stepped up their patrols to e nsure that the streets remain safe and that motorist abide by all traffic laws. The weekend officers zero tolerance approach, resulted in 129 motorists being issued with fixed penalty notices for vari ous traffic violations. Two traffic fatalities over holiday weekend THE BODY is removed from the scene of Sundays accident. F elip Major / Tribune staff

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L OCAL NEWS PAGE 6, TUESDAY, APRIL 26, 2011 THE TRIBUNE 4`_XcRef]ReZ`_d F REEPORT Marcus Bailey told a Supreme Court jury he was shot by someone lurking in bushes on the night of December 20, 2009, when conch stand owner Julius Lewis was robbed by a lone gunman. B ailey is on trial for the armed robbery of Docs Conch Stand and possession of a firearm. The prosecution alleges the accused robbed Mr Lewis of $270 and that he accidentally shot himself in the leg whilef leeing the scene of the robb ery. The defence opened its case last Wednesday when Bailey gave an unsworn statement in c ourt. While addressing jurors b riefly, he described himself a s a businessman and father of two. Bailey claims he was a victim of circumstance on the night in question as he was shot by someone who came out the bushes. According to earlier evid ence, police arrested Bailey not far from the scene of the robbery on Explorers Way. He was discovered sitting on the ground at Supreme Dry Cleaners with an injury to his leg. A gun and beige mask were nearby. I n his testimony, Mr Lewis s aid he was robbed at gunpoint by a man wearing a tancoloured Halloween mask. He said the gunman ran a cross the street to Supreme Dry Cleaners. A s the suspect was running a way, he said he heard a gunshot and saw the suspect hopping on one leg. Mr Lewis said the suspect fell and the money went flying in the air. In his closing argument, Prosecutor Vernal Collie toldj urors the finger of guilt points directly at Marcus Bailey. He noted that the evidence indicates that Bailey shot himself. He added that no one else was in the area and Mr Lewis watched the gunman as he was fleeing the scene. M r Collie said the only i nference which can be drawn was that the gunman shot himself. Carlson Shurland, defendi ng, said the prosecution had provided no evidence. T he case continues. F REEPORT: A man was h eld at gunpoint and ordered to drive to the Sea Horse Village area, where he was robbed by two men over the Easter holiday weekend. A ccording to Asst Supt L oretta Mackey, the incident was reported to police sometime around 2.30am on Sun day. The victim, a 27-year-old male resident of Lucaya, told police a dark-skinned m an armed with a handgun a pproached him as he was getting into his vehicle at the Port Lucaya Marketplace. The gunman got into the vehicle with the victim and directed him to drive to SeaH orse Village. The victim s aid they were followed by someone in another vehicle. The gunman ordered the victim to stop at Paradise Lane. The male occupant in the other vehicle then came out and searched the victims p ockets as the gunman p ointed the handgun at him. After stealing the victims wallet, containing cash and credit cards, the culprits fled the scene in their vehicle. ASP Mackey said police a re asking residents in the P aradise Lane area who might have seen anything suspicious during the early morning hours of April 24 that could assist with their investigations to call 3503107/8 or 352-9774/5 or 911. THE Bahamas National Council for Disability (BNCD tion drive for persons with disabilities at their headquarters off Collins Avenue in co-opera t ion with Parliamentary Commissioner Errol Bethel on May 18 from 10am to 5:30pm. As the deadline to register is quickly approaching, we are making an appeal for all Bahamians to be counted, especially persons w ith disabilities. This gives the Bahamas N ational Council for Disability the opportunity t o get correct statistics of persons with disabilities residing here in the Bahamas, there fore creating a database to lobby for services, f unding, equipment and disability rights, the council said. Persons with disabilities are asked to contact the council as soon as possible so that assis t ance can be forthcoming. All organisations for persons with disabil ities registered in the Bahamas are asked toc ome together for this undertaking and join our links to make a strong chain, said Erin Brown of Team ABC, a member of BNCD and a member of BABVI Toastmaster Club 1577647, first chartered club with persons with disabilities in the Bahamas. B NCD membership dues for all new persons with disabilities have been waived during this voters registration drive. This affords you the chance to be part of a great organisation with new officers are ready t o push forward for a more disabled-friendly B ahamas. Team ABC has partnered with the B ahamas National Council for Disability in assisting with membership and all endeavors to enhance the lives of all disabled, the councils aid. Team ABC (Abilities Beyond Challenges a group of disabled members who have tri umphed through various events: Sunshine I nsurance Marathon Bahamas in Nassau; Ride for Hope 2011 in Eleuthera ; Marios & Big O First Annual Fun Run/Walk/Skate/Push Nas s au and REACH Bahamas Autism Fun Run/Walk Ride in Abaco. Accused man claims he was shot by someone lurking in bushes MAN ROBBED AFTER BEING FORCED TO DRIVE AT GUNPOINT C RIME NEWS Date set for disabled persons voters registration drive MINISTER PAYS VISIT TO FAMILIES LEFT HOMELESS BY FIRE THE families who were left homeless by a huge fire on Bimini were paid a visit by Senator Dion Foulkes, the Minister of Labour and Social Development, and community leaders. Wednesdays blaze destroyed two h ouses and damaged three others leaving f ive families, 16 people, homeless. The Department of Social Services, in c onjunction with Administrator Sherr ick Ellis and Chief Councilor, Lloyd Dudda Edgecombe, provided temporary housing for all of the victims. Mr Foulkes also informed the people affected that Social Services will also provide clothing, food and other assistance until they recover. The leadership and community of B imini are commended for the quick response to the fire which prevented furt her damage to adjacent homes, said M r Foulkes. MINISTER of Labour and Social Development Dion Foulkes visits the scene of Wednesdays blaze.

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LOCAL NEWS T HE TRIBUNE TUESDAY, APRIL 26, 2011, PAGE 7 '1$ 7(67,1*7 RU1RDLQ 1 R 0RWKHUHHGHG O FFICIALS of the Ministry of T ourism and Aviation, the Bahamas Air T raffic Controllers Union and various aviation stakeholders participated in a one-day National Aviation forum at the Wyndham Nassau Resort last Tuesday. The stakeholders met to discuss ways to strengthen aviation services in the country. The Government is currently holding d iscussions with the Inter-American D evelopment Bank (IDB t o acquire funds to improve and expand aviation in the Bahamas. It is anticipated that the funds would be used to implement safety regulations in the industry and also to expand night flight services to the Family Islands among other plans. EFFORTS TO STRENGTHEN BAHAMAS AVIATION SERVICES COLOUR GUARD Members of the Scout Association of the Bahamas perform during the B ahamas National Aviation Forum held on Tuesday, April 19 at the Wyndham Nassau Resort. D EPUTY PERMANENT SECRETARY in the Ministry of T ourism and Aviation Charles A lbury delivers welcome remarks during the Bahamas N ational Aviation Forum held on Tuesday, April 19, 2011 at Wyndham Nassau Resort, Cable Beach. R aymond A. Bethel / BIS STUDENTS of Agape Christian School inM arsh Harbour got a chance to shine during the recent E Clement Bethel National ArtsF estival adjudications i n Abaco. RIGHT :AGAPE Christian School student Rebecca Higgs performs a pop music solo at the Marsh Harbour Gospel Chapel. ABOVE: AGAPE Christian School students perform as a female gospel group during t he recent E Clement Bethel National Arts Festival adjudi cations in Abaco. AGAPECHRISTIANSCHOOLSTUDENTSPERFORM

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By SIR RONALD S ANDERS (The writer is a Consultant and former Caribbean diplomat) CUBAS President, Raul C astro, has proposed term l imits for office holders in the Party, the State and the Government. He has doneso because, as he put it, we (in Cuba consequences of not having a reserve of well-trained r eplacements with sufficient experience and maturity to undertake the new and com-plex leadership responsibilities. C ritics of the Cuban government have been quick to point out that term limits now w ill have no affect on Raul Castro or his older brother, Fidel. They have both domi-n ated the party and government machinery since the C uban revolution. Term limi ts of two five-year periods introduced now would have little affect on Raul who is 79 and who took over from Fidel as President in 2008. Given good health, he could remaini n office until 2018 when he w ill be 86. As for Fidel, while he remained first secretary of the Communist Party after giving up the Presidency of the country, he is already 84 and not in great health. A lthough Raul has raised the issue of term limits in the c ontext of Cuba, it is interesting for other countries too, particularly as his propositiong oes beyond the government t o include political parties. T he United States has had a system of term limits for its head of government since 1947. The twenty-second amendment of the Constitution states that holding of theO ffice of President in limited t o two terms. The US is, therefore assured of a new leader every eight years after robust debates within parties, and then between them. Similarly, the constitutions o f many Latin American countries restrict holders of P residential office to two terms. Recently, the constitution a l restriction in at least three Latin American countries has been a source of great contention. In Venezuela, President Hugo Chavez managed to secure an amendment to the Constitution allowing himt o contest Presidential elections beyond two terms. He had earlier failed to get the required vote in a referendum. Reports indicate that the Supreme Electoral Council of N icaragua has also decided to a llow current President Daniel Ortega to run for re-election amid mass demonstrationsa gainst it. And, Honduras saw the sitting President, Manuel Zelaya, ousted in 2009 when h e also attempted to hold a r eferendum on re-writing the Constitution. Many of his opponents calculated that his i ntention was to overturn term limits on the Presidency. Up to a few weeks ago, the President of the Dominican R epublic, Leonel Fernandez, was reported to be actively considering running for a thirdc onsecutive term even though the current constitution adopted in January 2010 under an agreement between Fernndez and the main opposition party limits presidents to two consecutivef our-year terms. However, he has now announced that he will not be doing so. Instead, his wife, Margarita Cedeo de Fernndez, has been approved by his political party as a pos-s ible presidential candidate f or the 2012 elections. Under the present Constitution, President Hernandez can seek ree lection after skipping a term. Cynics regard the approval of his wife as a Presidential can d idate as a way of keeping the p ost safe for his return. Wives running to succeed their husbands started in Argentina where the current President, Cristina Fernandez de Kirchner, succeeded herl ate husband, Nestor, as President when he was still alive but ineligible to run for the Presidency after two terms in o ffice. Then, in Guatemala, Sandra Torres, the wife of the current President AlvaroC olom, has filed for a divorce in an attempt to circumvent constitutional laws preventing her (as a close relative of the incumbent) to compete in presidential elections due tob e held in September this y ear. For the most part, however, Latin American and Caribbean countries have accepted term limits on the Head of Government wheret hey exist. W ithin the Caribbean Community and Common Market (CARICOM tries, only Guyana has a term limit on head of government o f two terms. The current President, B harat Jagdeo, had always maintained that he would leave office at the end of the constitutional period, and he isn ow preparing to do so later this year when general elec-t ions will be held for the Presi dency and Parliament. J agdeos party has already chosen its Presidential candidate as has two of the opposi-t ion parties. In neighbouring Brazil, last O ctober Luiz Inacio Lula da S ilva stepped down after his s econd, four-year term in office. He was constitutionally prohibited from running for a third, consecutive term. Term limits at the governmental level in Cuba donta pply as they do in a democracy. In Cuba, term limits would pertain to persons within the Communist Party only, and it is by no means clear h ow Raul Castro envisages the transfer of authority from o ne Head of Government to another would occur. For instance would it be an open contest between candidates within the Communist Party, or would an executive bureau alone choose the new person?I n democracies, all political parties, would contend both within their own councils anda t the national level. Few would argue that the system of open contest between parties is not a good thing both for democracy and for the generation of new ideas. I n this system, even if an i ncumbent President managed to extend term limits by some democratic means, he or she would still have to contend in general elections with an opponent from another partya t the national level. T he more fundamental point that arises from Raul Castros proposal is that term limits should also be placed on office holders of political p arties. In his own partys case, f inding persons with experience in the younger generation is difficult because a handful of now older personsh ave dominated the leadership for decades. F ortunately, for political p arties in the majority of Latin A merican and Caribbean countries, younger people have emerged to sit as equalsw ith an older guard both in political parties and govern-m ent. S till, Castro may have raised a n issue deserving of serious contemplation in all democratic countries: Are two cons ecutive terms not sufficient for leaders to accomplish the programmes for which theya re elected, and should not space be made continuously for new people to gain experience and maturity to deal with a rapidly changing world? S ignificantly, there have been few leaders in democrat ic societies who were able to get and finish third terms, and those who did so faced enormous challenges of their leadership within their own parties and in the general popu lation of their countries. R aul Castro has offered much worth pondering. R esponses and previous commentaries at: www.sirronaldsanders.com PAGE 8, TUESDAY, APRIL 26, 2011 THE TRIBUNE Spa Manager Applicants must have: Spa Host Applicants must: Spa Concierge Applicants must: FABULOUS CAREER OPPORTUNITIESLuxury resort is in search of aGREAT JOB FOR THE RIGHT PERSON! Interested persons may apply at dpa@dpa-media.com Raul Castro offers much to ponder WORLDVIEW SIRRONALDSANDERS

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LOCAL NEWS T HE TRIBUNE TUESDAY, APRIL 26, 2011, PAGE 9 The Mercedes-Benz C-ClassYour most enjoyable drive ever.The Mercedes-Benz C-Class is a pleasure tobehold offering a new interpretation of driving pleasure. Its taut lines lend it an air of effortless superiority while the wide radiator grille and distinctive rear section announce a vehicle with a real presence and dynamic personality. Few cars can compete with its ability to adjust so many facets of its character from the interior to the drive technology so quickly and precisely in response t oexternal conditions and your own particular needs. The key to this flexible response is the standard-fit Agility C ontrol Package which includes selective damping. The interior offers noticeably more space and a more distinctive atmosphere tosuit your taste. As you will see, the C-Class is the perfect embodiment of the Mercedes-Benz philosophy.Tyreflex Star MotorsWulff Road, P. O. Box N 9123, Nassau, The Bahamas, Tel 242.325.4961 Fax 242.323.4667OUR PARTS DEPARTMENT IS FULLY STOCKED WITH EVERY COMPONENT NECESSARY TO ENSURE THAT YOUR MERCEDES RUNS TROUBLE FREE. TRAINED TECHNICIANS ON DUTY. GRADE THREE STUDENTS and teachers from Kingsway Academy in Nassau were in Grand B ahama for one day on Tuesday, April 19 for a visit to the world famous Garden of the Groves and other sites on the island. They also paid a courtesy call to the Office of the Prime Minister. They are pictured here with Angela Pratt Rolle, OPM administrator, who presented vice-principal M rs Chandra Minnis a certificate from the office. V andyke Hepburn / BIS KINGSWAY ACADEMY STUDENTS VISIT GRAND BAHAMA STUDENTS of the Central Abaco Primary School last Tuesday paid a courtesy call on the Chief of Police Ellison Greenslade at police head quarters in Nassau. The group which totalled 18 students, not including teachers and chaperons, flew into the capital for a week-long tour of New Providence. Commissioner Greenslade said he was honoured to have the grade six students as his special g uests and treated them to rides on various types of transportation used by the organisation. Stu dents rode on motorbikes, in police cars, on a fire truck and were treated to special performances by the RBPF K-9 Unit. The group of students also visited the Police Compstat room where they engaged in communication with officers on Abaco, Exuma, Grand Bahama and Andros utilising the latest in technology via video conference. Commissioner Greenslade encouraged the students to be good citizens by being obedient, respectful, considerate and helpful to all whom they come in contact with. He also encouragedt he students to exhibit good manners daily. The students of Central Abaco Primary left the grounds of the police energised and commit ted to do they part in making this Bahamas a safer place to live, work, visit and play. CENTRAL ABACO PRIMARY SCHOOL STUDENTS VISIT POLICE COMMISSIONER

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L OCAL NEWS PAGE 10, TUESDAY, APRIL 26, 2011 THE TRIBUNE d owntown Nassau. In February of t his year, a massive blaze at the Betty K shipping company destroyed one of these freight terminals and took with it a block of downtown Nassau. Mr Ingraham said that the reallocation of the Betty Ks operations tot he cargo port at Arawak Cay, ahead of schedule, has fortuitously assisted in the early commencement of significant infrastructureal upgrade in the center of Nassau. Nassau is the centre of Governm ent. The Queens representative, t he Executive, Parliament and the Judiciary are located there; so also is our countrys financial centre andi ts principal harbour -one of the b usiest cruise ports in the Caribbean. All are located in this city, on this island of New Providence. The health of this city and of this island is clearly vital to the health and well-being of our nation, MrI ngraham said. The Prime Minister said this is the time to fix problems of which B ahamians have long complained, b ut did not have the will to tackle. This is the time to move from talk to action and from procrastinationt o determination. That determination and privilege, and indeed our obligation, is to leave o ur Bahamas better than we met it a nd to bequeath to our children and future generations a legacy of which we and they will be proud. Over the years many people have dreamt of and planned for the revi talisation of the City of Nassau. T oday, the efforts of our collective B ahamian imagination are bearing fruit, Mr Ingraham said. SEEPAGESTWOANDTHREE they would like to question in connection with t he killing. Forest was described as 5 with a medium build of 180lbs and a dark brown complexion. Meanwhile, investigators are urging the public to provide them with any information which can assist them in their probe of the count rys 42nd murder for the year. A man was found with a gunshot wound to his h ead at Cowpen Road West, off Baillou Hill R oad, shortly before 2am on Saturday. It was reported that a group of men were seen arguing near a dark-coloured Nissan Maxima before the deceased was found. Shortly after the incident, police discovered a Nissan Maxima on fire in bushes at Sir Lynden Pin-d ling Estates. Police believe the vehicle fire is l inked to the early Saturday morning murder. Anyone with information which may assist investigations is asked to contact police at 919, CDU at 502-9991, 502-9910 or crime stoppers at 328-TIPS. A 20-YEAR-OLDman w as arrested after allegedly h ijacking and crashing a vehicle on Friday afternoon. The incident unfolded after 5pm in Prospect Ridge, south of Goodmans Bay Beach. Officers from the Western Division were on p atrol when they observed a m an with items in his poss ession, which were suspected to have been stolen. Officers attempted to stop the man who dropped the items and fled. T hey pursued the suspect o n foot onto West Bay S treet where he allegedly h ijacked a passing vehicle. T he driver was removed from the car while his three passengers two men and at eenaged girl remained inside. Officers pursued the vehicle and eventually caught up w ith it after the suspect crashed it into a tree, which resulted in the 15-year-old g irl being thrown from the c ar. The cars passengers were taken to hospital by EMS personnel, where the men were treated and discharged. However, the teenage girl remains in hospital in critical c ondition. D uring the incident, the s uspect, who is known to police, received gunshot injuries to his leg and was also taken to hospital where he remains in stable condit ion in police custody. P olice later discovered t hat the items were allegedl y stolen from vehicles p arked along the Cable Beach strip. Investigations continue. CAR CRASHES AFTER BEING HIJACKED POLICE at the scene of the crash on Friday. F elip Major / Tribune staff TRANSFORMATION OF NASSAU FROM page one TWO MEN GUNNED DOWN IN WEEKEND SHOOTINGS FROM page one

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being very successful with it otherwise they would not be doing it. My worry is that this may be hurting our destination, warned Mr Markantonis. Figures obtained in the last several days by Kerzner International from the Nassau Paradise Island Promotion Board show the total number of flights coming into The Bahamas was down year-over-year by 16.3 per cent in March, with the number of seats available to buy correspondingly reduced by 16.5 per cent. American Airlines has drastically cut its flight availability from Miami to The Bahamas, noted Mr Markantonis, as has Continental, and there have been no flights to Nassau from La Guardia airport in New York since Delta stopped its service in August 2010, representing a loss of 50,000 seats coming into The Bahamas per year by that route. Meanwhile, the cost of flying to Nassau in the next seven months from major US hubs such as Fort Lauderdale, Miami, Newark and JFK airport rose by an average of 28 per cent in January over 2010, 41 per cent in February and 27 per cent in March, according to data com piled in the last 72 hours by Kerzners hotel and flight book ing arm, Paradise Island Vaca tions, following inquiries by the resort. Kerzner International now plans to immediately seek to meet with airlines servicing The Bahamas to discuss what it deems a potentially significant obstacle to maintaining and growing arrivals to The Bahamas. We definitely intend to speak with our airline partners about this. Well be initiating conversations right away. We also believe the government will be doing the same thing. Frankly its critical for the destination, said the senior executive. He added that his comments are not to be taken as a criticism of the government, as he believes Minister of Tourism, Vincent Vanderpool Wallace and his Ministry of Tourism team are very much aware and on top of this. The resort company President explained that the disturbing price and seat availability trend first came to the resorts attention as it saw its outlay on its own executives travel skyrocket. Its very hard to obtain accurate data year on year comparing ticket prices on airlines, but we spend a lot for our staff and executives to travel between Ft Lauderdale and New York and Nassau and there have been, in our mind, some remarkable increases in the prices. We began wondering if some of the declining leisure business is perhaps due to the fact that the airfares seem so much higher, he said. With some further investigation, which will now continue as the resort seeks to determine what is driving the price increas es and what can be done about it, the significant across the board trend was discovered. These statistics are worri some and have to have an impact on consumers. They tend to book hotels first and then look around to book their fares. I am sure if you go on the Internet to check fares and the fares seem extraordinarily high you are probably not going to do that destination, said Mr Markantonis. He admitted, however, that it is hard to say exactly what the impact has been on Atlantis and tourism in The Bahamas so far from the price hikes. The resort has had a very strong first quarter with February, March and April meeting all the high expectations weve had of them, after a shaky January, he said. He said the summer season is looking like it could be quite strong because booking pace is ahead of last year right now and group bookings are up by 36 per cent. However, he said, he fears the impact that the price increases are having and will have on the leisure side of the companys business. Its been a busy period, but we are seeing a lower conversion rate in our bookings (to arrivals) than we were experiencing and we are hearing from some of our callers about their concerns about airfares so were now doing a more in-depth study. Mr Markantonis said the resort understands there have been increases in fuel prices which may be driving some of the price hikes, but there is concern some other factors may be at play. I think part of the reason is that a lot of these locations have less flights coming in. Just in March, according to figures released from the Nassau and Paradise Island Promotions Board (NPIPB year were down by 16.3 per cent in March and the number of seats was down 16.5 per cent. When the number of seats are going down they are getting better yields on planes and when you fill a plane at 95 to 98 per cent capacity if someone wants to be on that plane they dont have a lot of choice when it comes to paying what they are asking. Adding that he does not have the answer to addressing the problem at present, Mr Markantonis also suggested that one potential route to bringing down the cost of travel for tourists to Nassau may be for Bahamasair, the national carri er, to step up and begin provid ing more and cheaper service from key travel hubs. May be we are going to need Bahamasair to help us open gateways and once other airlines see their success and move into these airports Bahamasair would move out and go to another gateway, suggested Mr Markantonis. L OCAL NEWS PAGE 12, TUESDAY, APRIL 26, 2011 THE TRIBUNE tions in the PDP. The PDP will join the Democratic National Alliance, headed by former FNM MP, Branville McCartney and the National Devel opment Party, as yet another outside political force that will vie for political power in the general election, against the mainstream parties, the PLP and the FNM. Outside political party, the Bahamas Democratic Movement, headed by Cassius Stuart, was earlier this month absorbed into the governing FNM party. We believe the Bahamian people are ready for it. Everywhere we go people are saying that they need change and want an alter native and we think that will bode well for us. We basically see this as the best time where we have the opportunity to come out and have an affect on the Bahamian people in a real way and were excited about their chances, said a source within the PDP. Speaking about the PDPs philosophy, the source said: We believe we will run The Bahamas for Bahamians. Were not really moved by what we see in terms of these international companies and persons who may dictate to our government. Our party frowns on the decision of the Prime Minister to relax restraints on foreign ownership in restaurants and entertainment. We believe this is how you swallow up a culture. This movement is really about getting the Bahamas back on track. We went off track several decades ago, that is to say there was not a deliberate approach to assisting the Bahamas. The approach of this party will be very deliberate. That is what sets us apart. As for how the party intends to finance its campaign, the source said the PDP has no doubt that it can do so. However, they added that they hope their ambitions for public office can also be facilitated by what they perceive to be a desire for change amongst Bahamians akin to that which brought the PLP to power for the first time. If one goes back to mid 60s where the PLP was vying to become the government they did not have all the resources either but there was a moment in that period when Bahamians said We are not going to be put on or turned on by money, we are going to do right by our children and we believe this is that moment again. The money is fleeting but if you do what is right you will see the benefits for your children. We have sufficient funds but we know the moment is also right for a 1960s-type movement, said the source. FROM page one NEW POLITIC AL P AR TY ELECTS PAUL MOSS AS ITS LEADER NEW Providence hosted royalty when King Harald V of Norway and his wife Queen Sonja visited with friends at Lyford Cay. As an avid sailor, King Harald was a good friend of the late Robert Bobby Symonette, yachtsman, former Speaker of the House of Assembly and brother of Deputy Prime Minister Brent Symonette, and Craig Symonette, Norwegian Consul. He has visited The Bahamas on many occasions, said a source. He first came to Nassau many years ago to compete in the 5.5 metre class yacht races sailed from the Nassau Yacht Club. Bobby Symonette also competed in this races. The two were competitors in the 5.5 metre races on many occasions around the world. Crowned King of Norway in 1991, Harald is the formal head of the Church of Norway and the Norwegian Armed Forces. As an avid sailor he represented Norway in the yachting events of the 1964, 1968 and 1972 Olympic Games in Tokyo, Mexico and Munich. With his sailing crew he won World Championship bronze, silver and gold medals, in 1988, 1982, and 1987. The royal couple were entertained at Lyford Cay and Rose Island, they took a fishing trip and left New Providence on Monday. Their next engagement is at a reception and dinner at the Mandarin Hotel, in London, on Thursday evening hosted by Queen Elizabeth II for all foreign royalty attending the wedding of Prince William and Kate Middleton. KING AND QUEEN OF NORWAY VISIT THE BAHAMAS KERZNER CHIEF: RISING COST OF TRAVEL TO NASSAU MUST BE ADDRESSED FROM page one

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LONDON Associated Press DAVID BECKHAM, Elton John and Mr. Bean actor Rowan Atkinson will mingle with dozens of royal guests at Prince William and Kate Middleton's wedding, according to an official guest list released Saturday that includes one uncomf ortable presence the Bahraini crown prince accused of a brutal crackdown on protesters. St. James's Palace also released the seating plan at Westminster Abbey, which showed that relatives of William's mother Princess Diana are sitting across the aisle f rom the royal family, joining the Middletons in an exception to the traditional division of a church into a bride's side and groom's side. There was no explanation of the seating arrangement, but the Spencers have not had a good relationship with the royal family, especially after Diana's brother Charles S pencer attacked the royals during a speech at her 1997 funeral. More than 46 foreign royals are seated behind the British royals. They include Bahrain's Crown Prince Salman bin Hamad Al Khalifa, an invitation that could prove awkward in light of his government's r ough treatment of mainly Shiite pro-democracy protesters. Some human rights campaigners have started to petition Foreign Secretary William Hague to revoke the invitation, saying the prince should not be allowed to attend the occasion. At least 30 people have died in B ahrain since mid-February, including four who died while in official custody, and many wellknown activists and lawyers have been imprisoned. Other foreign royals who are attending include those from D enmark, Norway, Spain, Saudi Arabia, Thailand and Morocco. Only a handful of celebrities are invited, including the Beckhams, director Guy Ritchie, soul singer Joss Stone, and Atkinson a close friend of William's father Prince Charles. A lthough about 1,900 guests have been invited to the couple's wedding ceremony at Westminster Abbey, half of them will sit in the section of the abbey where views of the altar are restricted, and they will have to rely upon video screens to follow the service. Q ueen Elizabeth II and other royal family members will sit in the front row across the aisle from Middleton's parents and brother James. They will be closest to the abbey's sanctuary, where William and his b ride will stand. Foreign dignitaries, the Middletons' family friends, British government and defense officials, families of British soldiers killed in Iraq and Afghanistan, William's army colleagues, and people who work for William's charities will be seated around t he abbey. Palace officials said that only crowned heads of states are traditionally invited to royal weddings, and that political leaders who are not from the 54-member Commonwealth of nations, such as President Barack Obama or French President Nicol as Sarkozy, weren't sent invitations. About 600 of the guests will then attend a champagne and canapes reception at Buckingham Palace hosted by the queen. I NTERNATIONAL NEWS PAGE 14, TUESDAY, APRIL 26, 2011 THE TRIBUNE GN-1212 BECKHAM, ELTON, MR BEAN TO ATTEND ROYAL WEDDING U NION FLAG BUNTINGS h ang across Regent Street in London to celebrate the forthcoming royal wedding of Prince William and Kate Midd leton. Prince William and Kate Middleton are to marry at Westmins ter Abbey in London on April 29. (AP

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INTERNATIONAL T HE TRIBUNE TUESDAY, APRIL 26, 2011, PAGE 15 Relax!Its not complicated. H e wants to protect his family. He wants his children to have opportunities. And he wants to meet his nancial responsibilities. Thats why he has life insurance with Family Guardian. Lifes a lot less complicated when tomorrow is secure. LIFE INSURANCE / are you covered? A MBESTA-ExcellentFinancialStrengthRating A member of the FamGuard Group of Companies CONTACT ONE OF OUR SALES REPRESENTATIVES AT AN OFFICE NEAREST YOU E ast Bay Street, Marathon Road, Thompson Boulevard, & Blue Hill Road (top hill +242 396-1300 I www.familyguardian.com LONDON A ssociated Press BRITISHgovernment o fficials say that more than 5,500 street parties are being planned in honor of Prince William and his bride on April 29. F igures collated by the L ocal Government Association show that, in London a lone, there are some 800 a pplications for road clos ures for the day of the royal wedding. But the figures released Saturday also hint at Britain's divisions, with fewer people in indepen dence-minded Scotland p lanning street parties. In Glasgow, Scotland's largest city, officials said they had-n't receive a single request. L ocal councils say they are aware of thousands of other parties being held that do not require official permission, making the total number much higher. UK COUNTS 5,500 STREET PARTIES FOR ROYAL WEDDING ROYAL FAN John Loughrey, aged 56 from Wandsworth, south London, displays a Union flag with an inlay of Britain's Prince William and his bride-to-b e Kate Middleton. (AP

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I NTERNATIONAL NEWS P AGE 16, TUESDAY, APRIL 26, 2011 THE TRIBUNE WewerehonouredbythepresenceofTheirExcellences SirArthurFoulkesandLadyFoulkesandthankthem commitmenttoacommunitythantocontributetoits Chevron Bahamas Ltd celebrated with pride the 10th anniversary of our signature youth development programme in The Bahamas the Texaco Road Safety Heartiestcongratulationsto Grand Prize winnerGabriella Butler ofSanSalvadorCentral High School and Quitel Charlton A Celebration of the Talented Young Bahamians and Community Outreach New car... New home... Stay tuned... B EIRUT Associated Press IN A SHARPescalation of Syria's crackdown on dissent, thousands of soldiers backed by tanks pouredM onday into the city where t he five-week-old uprising began, opening fire indiscriminately on civilians before dawn and killing at least 11 people, witnesses said. Bodies were scatteredi n the streets and activists s aid the death toll could rise. The offensive into the southern city of Daraa was planned in comprehensive detail: electricity, water and mobile phone services were cut. Knife-wielding security agents conducted house-to-h ouse sweeps, neighborhoods were sectioned off and checkpoints set up suggesting Syria planned to impose military-style control on the city and other areasi n the country. They have snipers firing o n everybody who is moving," said a witness who spoke to The Associated Press by telephone, asking that his name not be usedo ut of fear for his own safet y. Snipers "They aren't discriminating. There are snipers on the mosque. They are firing at everybody," he said. T he massive assault into Daraa appeared to be part o f new strategy for crippling pre-emptive strikes againsta ny opposition to President Bashar Assad, rather than reacting to marches and protests. Other crackdowns and sweeping arrests werer eported on the outskirts of D amascus and the coastal t own of Jableh bringing more international condemnation and threats of targeted sanctions by Washington. But the assault on Daraa, a n impoverished city on the J ordanian border, was by far the biggest in scope and firepower. Video shot by activists purported to show tanks rolling through streets and over fields. Youths pelte d the passing tanks with s tones, the video showed. "Let Obama come and take Syria. Let Israel come and take Syria. Let the Jewsc ome," shouted one Daraa r esident over the phone. Anything is better than Bashar Assad." Syria uses army to crush revolt; at least 11 dead

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By ALISON LOWE Business Reporter alowe@tribunemedia.net GRAND Bahama hotels suffered a 19.9 per cent fallo ff in hotel revenue in the last three months of 2010, pri marily due to a significant contraction in occupancy lev e ls, the Central Bank said in its latest report. This came even as overall a rrivals to the island rose by 11.3 per cent, up from 2.1 per cent in 2009, thanks to an 18.3p er cent hike in sea arrivals. Air arrivals fell in the September to December period of 2010 over 2009 by 19.9 per cent, said the Central Bank. Such figures provide a further insight into the economic conditions in the home of the countrys second city, and what is sure to have been part of the motivation behind the decision by the islands biggest resort the Our Lucaya Beach and Golf Resort to terminate around 200 workers in early 2011. The tourism picture was more rosy for the Family Islands, which enjoyed a 7.1 per cent overall recovery in visitor numbers following 2009s 0.8 per cent decline. Increased air lift boosted air a rrivals by 16.8 per cent while visitors arriving into the Family Islands by sea firmed by 6.1 per cent overall. In its Quarterly Economic Review for the September toD ecember 2010 period, the second quarter of the governments fiscal year, released last Thursday, the CentralB ank of the Bahamas said that tourism was sustaining its SECTIONB business@tribunemedia.net TUESDAY, APRIL 26, 2011 THETRIBUNE $4. 68 $4. 51 $4. 69The information contained is from a third party and The Tribune can not be held r esponsible for errors and/or omission from the daily report.$ $5.23 $5.21 $5.23 [Learn more at royaldelity.com] BAHAMASNassau:242.356.9801 Freeport:242.351.3010BARBADOSSt.Michael:246.435.1955 b($"# "'$!) r"&!! '#!' !$!&&" tffrf# By ALISON LOWE B usiness Reporter a lowe@tribunemedia.net TWO investors are promising to transform the economy of a small Abaco islandt hrough a multi-million dollar investment in a seafood storage and processing facili-t y and fuel station. The move aims to allow the islands population to expand t he market for the fish produ cts the majority rely on for t heir livelihoods. Moores Island fishermen bring in hundreds of thousands of pounds of seafood, including lobster, fish, concha nd crabs, on an annual basis and the developers project it could create an annual turnover of around $5million by providing them with the means to conveniently and effectively get their products t o market, locally and abroad. Moores Island resident Johnathan Stuart and hisA merican partner, Jerry Myers, will have invested $600,000 this year in setting up a fuel station to service local boats and vehicles anda re in the process of setting u p the seafood facility that they say will be up and runn ing in time for the re-opening of the crawfish season on August 1st. The storage facility will be 5,000sq ft in size with several b rand new 30ft freezers. Its going to arrive on island in t he next three to four weeks, s aid Mr Myers. The partners are also set to import a giant ice making machine which they plan to p rovide ice from for free for t he local fishermen, in turn for the opportunity to buy all o f the seafood they can catch. The seven by three and a h alf mile long island which s its about 28 miles off the w estern coast of mainland A baco has a population of roughly 950 people, of which only a couple have jobs out side of the fishing industry with government and small local stores according to resident, Mr Stuart. They are hard working p eople and I think a lot of t hem are left out of making more money because the only w ay to get their catch down to Nassau is to send it on the mailboat. The guys may get a huge catch but they have to have l ittle freezers make their own ice and I imagine whole p rocess is just a big pain in t he neck. With our fish plant there well buy everything everyone catches that day and I am sure that will have a t remendous effect on the e conomy because a guy can go out and catch everything h e wants knowing he can turn it in for cash, said Mr Myers. T hrough the creation of the p rocessing and storage plant, f uel dock and future plans, t he two investors also expect Seafood facility seen as big boost to Abaco island By ALISON LOWE Business Reporter alowe@tribunemedia.net CENTRAL Bank data shows the gap between what the government was spending versus what it was earning, grew to become 46 per cent larger in the last three months of 2010 than it was in the corresponding period in 2009, with interest payments on debt also increasing by more tnan 25 per cent. This growth in the second quarter of the fiscal year, which brought the overall fiscal deficit to $111.3 million, came as total revenue to the government fell from 2009 levels by 16.3 per cent to $302.3 million. It occurred even as the governments aggregate expenditure dropped by 5.4 per cent to $413.6 million and as tax receipts accounting for 87.9 per cent of total revenue expanded. The report gives an indication of the status of the governments finances prior to the government receiving hundreds of millions of dollars in one off payments between January and April related to the sale of BTC, the Bahamas Oil Refining Company (BORCO development, among other things. Former Minister of State for Finance, James Smith, sug gested in April this year that the government could end up wiping out its projected fiscal deficit for 2010/2011 because of the in flows, which Tribune Business calculated could add up to around $350 million. However, he warned that the helpful funds must not send the policymakers to sleep but should be Government deficit almost 50 per cent bigger in 2010 before one off payments S EE page 4B n D ata shows that prior to one-off payments related to B TC, BORCO, fiscal deficit had grown 46 per cent larger than during the same period in 2009/2010 as total revenue fell n Government interest payments on debt rise by 25.4 per cent over the same period in 2009/2010 n The National Debt advanced by 2.8 per cent over the previous quarter and nine per cent over the previous year, to stand at $4.3 billion at the end of December2 010 n D omestic economy said to be on stable trajectory t hough with continuing high levels of unemployment SEE page 6B JAMES SMITH GB hotels suffer drop in revenue SEE page 3B By ALISON LOWE B usiness Reporter a lowe@tribunemedia.net FAMILY island resorts are reporting mixed experiences over the first quarter o f 2011, with some finding business has declined significantly as others see majorb oosts of as much as 55 per cent in occupancy. President of the Out I sland Promotions Board, Stephen Kappeler, said based on a recent meeting of 1 0 of the boards 22 memb ers, it appears that for many family island properties, business was flat tol ast year for January and February, March was up quite a bit and April is pac-i ng well too. N either he or the Bahamas Hotel Association could provide hard data about trends in the industry in the family islands at this time. Frank Comito, Execu-t ive Vice President of the Bahamas Hotel Association said the BHA is in the process of compiling figures. Mr Kappeler, who is also General Manager of the C ape Eleuthera Resort and Y acht Club in Rock Sound, Eleuthera, said his property may have done better than m ost, having seen a 30 per cent increase in arrivals for March and a 15 per cent rise o ver 2010 in April. With this being a downturn economy we think that's outstanding. We think t here's a lot of merit and strength in the two fly free and companion fly free promotion the Ministry of Tourism is doing with the Out Island Promotions Board and the hotels in Nas sau, he said. Under the terms of the deal, a couple can get twof ree tickets to fly from Nas sau to an out island resort if they agree to a minimum four-night stay in a partici p ating resort once there. Alexis Ross, General Manager at ValentinesR esort and Marina, in Harbour Island, Eleuthera, said she too has been extremelyp leased with the perfor mance of the 40-room resort this year over last. From what I can see we have done exceptionally well this year compared to last year. In the month of March (2010 maybe 30 per cent occupan cy last year, this year we are at 85 to 90 per cent. For us its fantastic. From next week, straight FAMILY ISLAND TOURISM SHOWS MIXED PICTURE SEE page 6B

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upward trend during the fourth quarter, benefiting from continued growth in the major source markets and ongoing marketing campaigns t o boost stopover arrivals. Visitors to New Providence increased strongly by 16.3 per cent, after a much smallerr ise of 1.9 per cent in the comp arative 2009 period. However, this was underpinned s olely by a 24.1 per cent expansion in sea arrivals, as the air segment stabilized. Looking at the sectors performance throughout the Bahamas overall, there was a total visitor number strengthe ning of 12.7 per cent to 1.3 million in the fourth quarter o f 2010, again primarily driven by sea-based arrivals meaning cruise-based visitors. Average daily room rates, a key driver of hotel profitability, declined by 1.3 per cent. Hotel receipts in New Provi dence decreased by 1 per c ent to $72.2 million, offset ting the modest firming in the occupancy rate. Buoyed by a 13.1 per cent surge in cruise ship calls, and t he addition of larger capacity vessels, sea arrivals which accounted for 79.4 per cent of total visitor traffic a dvanced by 16.5 per cent to 1.1 million, exceeding the m odest 1.2 per cent growth o f 2009. However, the gains i n air arrivals moderated to 0 .1 per cent from 0.5 per cent a year earlier, said the Central Bank. BUSINESS T HE TRIBUNE TUESDAY, APRIL 26, 2011, PAGE 3B By Simon Cooper R es Socius I n Measure for Measure William Shakes peare wrote: A fool thinks himself to be wise, but a wise man knows himself [or herself naturally] to be a fool. While Shakespeares play itself has little to do with business, thep hrase could equally read: A foolish businessperson rushe s into start-up a wise one h as plan B in place. Or, if you prefer, fools rush in where angels fear to tread, as A lexander Pope wrote back i n the 18th century. I am constantly amazed at h ow otherwise rationale people in the Bahamas, and e verywhere else, too, rush off t o throw their hard-earned d ollars at a business proposit ion that has not a chance in h ades to succeed. I wish I had a thousand dollars for every t ime that this has happened in our islands. If I did, I would do my best to avoid making the same mistake, too. If I offered you an exclusive McDonalds franchise in an area with, sa,y three million residents and huge growth potential, would you be interested? What a gap in a wonderful market, you say? Unfortunately, in my example the area concerned is a predominately Hindu part of India, where selling beef burg ers could be more than just career limiting. I would love to know how often people across the world fail to stop and wonder why t heir business dream does not exist already, and instead waste money on wild goose c hases after non-existent gaps in markets? True, the guysa nd girls at Facebook, M icrosoft and Virgin have proved to be exceptions. Lets face it, though. Exceptions like these are in the minority, a nd we are not all made of the stuff of genius. W ise people who know they are imperfect (as opposed to foolish ones whot hink they are not) are wiser when they buy existing businesses that already havee stablished track records. T rue, they will be spending c ash up front. Equally, though, they should be gett ing income right away to start recouping this. Compare this to people starting new initiatives. They will be spending cash up front,t oo. For furniture, equipment, stock, launch advertising you name it. And often with few dollars in return in the beginning. This is often the point in time at which they discover they still have personal expenses to cover, and how expensive starting their new business is really going to be.A further downside is that they often burn their boats in t erms of previous income streams to concentrate on t heir new ventures. This is why, as a business broker, I recommend myc lients consider purchasing e xisting businesses. The wellrun ones that I sell have staff in place to keep those businesses ticking over when the o wners are away. Instead of burning boats, this means my c lients can initially manage their new enterprise remotely after hours, in the comfort of their homes, and in the knowledge that their persona l expenses are already cove red by established income s treams. NB: Res Socius was founde d by Simon Cooper in 2009, and is a business brokeragea uthorised by the Bahamas Investment Authority. He has e xtensive private and public SME experience, and was formerly chief executive of a p ublicly traded investment company. He was awarded an MBA with distinction by Liverpool University in 2005. C ontact him on 636-8831 or write to simon.cooper@resso cius.com. Dont burn boats in going into business S IMON COOPER A NEW contractor's association held its first press conference on Thursday in which it invited all Bahamian contractors to attend its first general meeting, to be held this Thursday, where "present concerns in the industry" will be discussed. In a release issued Friday, the New Providence Contractor's Association, founded by Delroy Meadows, who intends to put himself forward as an independent political candidate for Fort Charlotte in the next general election, suggested that it now has 300 members and expects to attract thousands more. The NPCA takes issue with a number of provisions of the proposed Contractor's Bill, which is being considered at this time by the government as a means to regulate the industry, and which has been strongly advocated for by the Bahamas Contractor's Association, led by Stephen Wrinkle. Mr Meadows said: "I believe that if a Bill such as this were to pass it should have the full input of the majority of those in the industry. I dont think it's fair to have one association responsible for the drafting of such a Bill when this association does not represent the entire industry. We are here to make sure that diverse representation exists to allow for fairness and transparency in regards to the regulation of the contractors in The Bahamas." Mr Wrinkle has stated that the Bill is critical if the Bahamian construction industry is to become safer and more accountable and if domestic contractors are to get a bigger share of foreign direct investment-related construction work, given that at present there is no licensing of contractors and therefore ascer taining their skill level and competency to complete particular jobs is problematic, especially for foreign developers. Also expressing concerns about Bahamian contractors access to the economic benefits that derive from large scale construction projects, the NPCA, in its press conference, said it believes there needs to be more "fairness in the industry" as they feel that the majority of Bahami an contractors are being "left out" of many of the major projects now taking place in the country. Steering Committee members Sydney Sylvester, Clifton Colebroke and Audley Hanna said the New Providence Contractors Association is fully equipped with certified con tractors in every area of the industry and "are well capable of handling projects of any scale presented to them". The association will be having its first general meeting at the Union Hall on East Street South and Solider Road on Thursday at 7pm. Bahamian contractors are invited to attend meeting GB hotels suffer drop in revenue FROM page 1B

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By ALISON LOWE B usiness Reporter a lowe@tribunemedia.net MOVERS and shakers in the tourism world will be attending the 15th annual C aribbean Hotel and Tourism Investment Conference (CHTICd iscussions will be had and insights shared on the future of the industry, emerging trends and how to succeed in the sector. Developers, financial industry executives, financiers, hotel industry personnel ands takeholders from The Bahamas and elsewhere are being invited to attend the May 10 to 12 conference as delegates, and receive the chance to learn, share experiences and network. CHTIC attracts government officials, investors, lenders, architects, planners, construction companies, financial organizations, real estate/mortgage intermediaries, developers, hoteliers,i ndustry officials and other t ourism entities. Potential delegates from The Bahamas can take advantage of this event to meet with investors and other delegates conducting business in the Caribbean," said Alec Sanguinetti, director general andC EO of the Caribbean Hotel & Tourism Association. The CHTA stages the CHTIC in conjunction with another not-for-profit entity, the Caribbean Tourism O rganisation. The CHTIC p rogram features Edmund B artlett, Minister of Tourism for Jamaica, delivering the k eynote address, themed "Tourism Investments Key to Caribbean Growth" dur i ng the opening ceremony, which takes place at 6.30 pm at the five-star Iberostar Resort All Suites on May 10. CHTA President Josef Forstmayr will also speak at the opening ceremony andt ouch on the importance of investment in the Caribbean to help maintain the economi c stability of the region for y ears to come. The conference, to be held a t the Montego Bay Convention Centre, will feature sessions where industry experts in global travel and tourism,t he financial sector and the airline industry will provide vital forecasts of the future of tourism; discussions of the pros and cons of the hot topic of whether to go all-inclusive and the casino industrya nd its costs and benefits in tourism. Caribbean Ministers of Tourism will gather at the Caribbean Ministers of Tourism forum to share their vision of investment opportu-n ities in the region and what g overnments are doing to encourage expansion into the region and other experts will provide insights into how to put heads in beds in an Arrivals and Survival forum. A day-by-day breakdown of the CHTIC program,w hich can be accessed online via http://www.caribbeanhotelandtourism.com/eventschtic/event-CHTIC-program.php. The registration fee i ncludes all general sessions, t wo receptions, one dinner, t wo lunches and coffee breaks.Registration fees are $ 450 per person for CHTAmember hotels and government officials; $875 per per s on for CHTA allied members and $975 per person for non-members. All funds are reinvested in tourism in the region. For more information on CHTIC 2011 includings ponsorship opportunities contact CHTA at 305-4433040, e-mail e vents@caribbeanhoteland t ourism.com or visit http://www.caribbeanhote l andtourism.com/eventschtic/event-chtic-about.php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f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ahamians invited to major tourism investment conference t o create dozens of permanent jobs on island for local residents. O n their website, stuartmyersltd.com, the two men say they are open to potential investors in the project. However, Mr Myers said they could easily complete the investment by themselves. We are 100 per cent complete on the fuel side of things, so we have a 22,000 gallon storage tank there, along with pumpso n the dock and on the land side and that can be expanded if n eeded. There used to be about six little rusty tanks and a dock that looked like it was bombed out in Second World War. Johnathan and I got talking decided maybe we could resurrect the entire facility. In the next three to four weeks the building and foundation w ill be complete for the processing plant. With everything being brand new we will be in the best posit ion possible to meet the standards that we would need to m eet to export the seafood when we get to that stage, suggested Mr Myers. As far as I know we are only company that will be selling gas a nd buying fish at same time. We can use that to everyones advantage and sell the gas to them about 20 cents above cost and bargain on the fish side, thats a major draw when you look a t the cost of gas these days. F urther down the line, the pair believe that there is an opportunity to set up a wholesale food agency which would bring in grocery supplies for the island directly from Florida. We wills upply the local stores and help them cut their costs and increase their profits, said Mr Myers. And if all goes well, there is demand for a bone fishing lodge t hat will create opportunities for more tourism to come to the i sland. Wed like to set up a 20 to 30 room lodge. People come to the island asking about that kind of thing so we believe there is the demand, he added. Seafood facility seen as big boost to Abaco island FROM page 1B

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t o July, we will be running at about 80 per cent occupancy f or both the villas and the m arina. Weve got quite a few groups coming, said Ms R oss. However, at the Green Turtle Club in Abaco, sales manager Molly McIntosh said the first quarter was down f or the 32-room Club and marina by around 15 per cent. We were not tremendous ly down, but revenue was d own. We are having prob lems with flights and pricing on flights, thats probably the biggest challenge and since we had the issues with elec tricity last year (when the i sland suffered prolonged b lackouts for months throughout the summer) we lost some boating groups thatw on't come back this year. They won't come back because they won't go through that. Were keeping our fingers crossed that BEC doesn't mess us up this year, were h oping we can get more flights at great rate and more domestic tourism. Wereh opeful that well have a very g ood summer if the gas and diesel costs (which affect boaters) dont kill us. At the 16-room Greenw oods Beach Resort in Cat Island, Waldemar Illing said business is definitely worse this year than last. The poorf irst quarter came after a Christmas/New Year period where bookings were around 20 per cent off those regis tered last year, which were less than those seen in 2008. H e suggested the accessib ility and cost of flights com ing into the island is a major problem. We dont have any direct flights into Florida anymore. Cat Island Air stopped flying here, Bahamasair doesnt fly here. Sky Bahamas does fly in and out twice a day, thank God for that. It is difficult to make ends meet. Taxes are rising instead of 10 per cent we havet o add 16 per cent to the room r ate, NIB contributions have risen and everyone is expect ing discounts because that is what is happening all over the C aribbean. Two weeks ago, data released by the Central Bank of the Bahamas revealed thatt ourism revenues for hotels in Nassau and Paradise Island were down 6.1 per cent in January and February of this year over last. But despite this surprisingl y poor performance in the e arly part of the year, direc tor-general of tourism, David Johnson; Bahamas HotelA ssociation president, Stuart Bowe; and Baha Mar vicepresident of external affairs and former BHA president, Robert Sands, said bookings have picked up and improved conditions are expected going f orward. Mr Bowe said: "We fully anticipate making up for lost ground in January andF ebruary based on what we a re seeing in March and April, and advanced bookings over the next two months. B USINESS P AGE 6B, TUESDAY, APRIL 26, 2011 THE TRIBUNE $SSOLFDQWVDUHUHTXLUHGWREH 3 DUHQWVDUDVNHGWRFROOHFW D SSOLFDWLRQIRUPVIURPWKH+LJK 6 FKRRO'HVNLQWKH+HUEHUW 7UHFR$GPLQLVWUDWLRQ%XLOGLQJ RQWKHVFKRROV%HUQDU5RDG FDPSXVEHWZHHQ DQGGDLO\EHIRUWKH WHVWLQJGDWH $SSOLFDWLRQIRUPVPD\ DOVREHDFFHVVHGIURP WKHVFKRROVZHEVLWH ZZZNLQJVZD\DFDGHP\FRP VHH'RFXPHQW'RZQORDGVf)RUIXUWKHULQIRUPDWLRQNLQGO\FRQWDFW WKHVFKRRODWWHOHSKRQHQXPEHUV FAMILY ISLAND TOURISM SHOWS MIXED PICTURE FROM page 1B considered an opportunity to create the breathing space that will allow the government to take the steps necessary to bring the countrys finances onto a more stable and sustainable footing in the long-term. According to the Central Bank Quarterly Economic Review for the period ending December 2010, prior to the one-off inflows, tax receipts grew in the second quarter of the budget period by 4.3 per cent or $11 million to $265.7 million. After decline in import and related stamp taxes in the previous quarter of 12.5 per cent and in international trade and transactions related taxes of 2.6 per cent, these dominant taxes accounting for 57 per cent of the total grew in the second quarter by 16.7 per cent ($21.7 million million, buoyed by growth in import, excise and stamp taxes on imports. Tourism related taxes also grew, as did motor vehicle taxes, by 24 per cent. However, other taxes, in particular property-related taxes, dropped by 19.6 per cent to $37.8 million, due mainly to a 41 per cent fall-off in property-related taxes, amid continued softness in the housing market, said the Central Bank. A reduction in the amount of subsidies to public corporations over the same period in the previous year accounted for an overall reduction in government expenditure of $33.9 million to $14.4 million. However, led by a rise in interest payments in line with the rise in debt obligations, current spending grew by 2.9 per cent to $356.2 million. Interest payments on government debt increased by 25.4 per cent or $10.6 million over the 2009/2010 comparative period to $52.4 million. This was up from $44 million in the July to September first quarter. Capital outlays were said to have stabilized at $43 million. The National Debt, the accumulation of yearly deficits, expanded by 2.8 per cent ($114.0 million per cent ($351.7 million stand at $4.3 billion by end-December, 2010. Debt Public sector foreign currency debt was said to have risen by 1.7 per cent ($22.9 million) to $1.3 billion. However, due to refinancing in the previous year, total debt service payments on this portion of the government's debt obligations were reduced by over 50 per cent to $171.7 million. As such, Governments debt service payments fell by $174.4 million to $27.4 million, and those for the public corporations were lower by $74.1 million at $144.3 million. "Net of refinancing activities, Governments debt service as a percentage of revenue firmed to 9.1 per cent from 4.7 per cent, and to 5.8 per cent of estimated exports of goods and non-factor services, from 3.5 per cent in 2009." The Central Bank said that indications suggest the domestic economy maintained a stable trajectory during the fourth quarter of 2010, supported by a modest improvement in tourism output, as the recovery took hold in the main source markets. Private sector credit contracted marginally, and the bulk of bank lending was directed at the Government, given that consumer demand remained anemic. Reflective of increased loan write-offs, banks asset quality indicators showed a moderate improvement in the review quarter; however, banks profitability declined in the three-months to September, due to an increase in loan loss provisions, said the Central Bank. Construction activity remained mild, owing to subdued foreign tourism-related investment and domestic private sector projects. "Construction output continued to be constrained by subdued domestic private sector activity and moderate levels of foreign direct investment. In this context, total mortgage disbursements for construction and repairs, as reported by domestic banks, insurance companies and the Bahamas Mortgage Corporation, fell by 43.3 per cent to $34.6 million, extending the previous years 13.9 per cent contraction. Both residential and commercial mortgage disbursements contracted by $22.9 million to $32.5 million and $3.5 million to $2.2 million, respectively. "Local mortgage commitments for new buildings a forward looking indicator of construction activity fell in number by 7.9 per cent to 245 and the corresponding value, by 28.9 per cent to $26.6 million." In this context, consumer demand cond itions were relatively weak, being further hindered by the continuing high unemployment levels, said the Central Bank. Inflation was benign despite a rise in international oil prices. Government deficit almost 50 per cent bigger in 2010 before one off payments F ROM page 1B

PAGE 19

JEANNINE AVERSA, AP Economics Writer WASHINGTON The Federal Reserve is increasingly confident in the economy and about to end a $600 billion program to support it. Now for the next step figuring out how to keep inflation from taking off. Since late last year, the Fed has bought government bonds to keep interest rates low. Fed Chairman Ben Bernanke and his colleagues are expected to signal this week that they will allow the program to expire as scheduled in June. The end of the bond-buying program would mean that, aside from tax cuts, almost all the extraordinary measures the government took to prop up the economy are over. Congress is fighting over how deeply to cut federal spending, not whether to spend more for stimulus. House Republicans have passed a plan that would slash spending by nearly $6 trillion over the next decade, in part by overhauling Medicare and Medicaid. President Barack Obama wants $4 trillion in spending cuts over 12 years and would raise taxes on the wealthy. Since the Fed announced the plan last August, worries that the economy would fall back into recession have all but disappeared. The private sector is adding jobs, and the stock market is at its highest point since the summer of 2008. But higher oil and food prices pose a threat. If companies are forced to raise prices quickly to make up for escalating costs, that could start a spiral of inflation. Exactly how much of a threat inflation poses to the economy right now is a matter of disagreement within the central bank. A vocal minority, including the Fed regional chiefs in Philadelphia and Minneapolis, believe the Fed may need to raise interest rates by the end of this year to fight inflation. The Fed has kept its benchmark interest rate near zero since December 2008. And, Richard Fisher, president of the Federal Reserve Bank of Dallas, argues that the Fed has done its job and should consider halting the bond program now, not in June. The majority including Bernanke, vice chairwoman Janet Yellen and William Dudley, president of the Federal Reserve Bank of New York believe interest rates should stay low longer, and the bondbuying program should run its course. Bernanke has predicted that the jump in oil and food prices will cause only a brief, modest increase in consumer inflation. Excluding those prices, which tend to fluctuate sharply, inflation is still low, he has argued. Bill Gross, who manages the world's largest mutual fund at Pimco, worries that rates on Treasury bonds will rise when the Fed stops buying them. If other buyers don't step in and there's less demand for Treasury bonds, then the rates, or yields, on those bonds would rise. That would drive down prices on bonds. Rates on mortgages, corporate debt and other loans pegged to the Treasury securities would rise, too. Higher borrowing costs could slow spending by people and businesses, and slow the overall economy. Fed officials and others believe that because the end of the program has been well telegraphed, it won't have much of an impact on bond rates. That was the case in 2010 when the Fed ended a $1.7 trillion stimulus program. The bondbuying program was the Fed's second since the recession, and is known as "quantitative easing," or "QE2" for short. The economy would have to be in serious danger of tipping into another recession for the Fed to consider embarking on a third round. The Fed has other tools at its disposal. Since early August, it has taken about $17 billion a month that it earns in interest from mortgage-backed securities and used it to buy bonds, a separate and smaller step than the $600 billion program. B USINESS PAGE 8B, TUESDAY, APRIL 26, 2011 THE TRIBUNE 52wk-Hi52wk-LowSecurit y Previous CloseToday's CloseChangeDaily Vol.EPS $Div $P/EYield 1.190.95AML Foods Limited1.191.190.000.1230.0409.73.36% 10.639.05Bahamas Property Fund10.6310.630.000.0130.200817.71.88% 6.504.40Bank of Bahamas6.006.500.503,2000.1530.10042.51.54% 0 .530.17Benchmark0.180.180.00-0.8770.000N/M0.00% 2.842.70Bahamas Waste2.702.700.000.1680.09016.13.33% 2.201.96Fidelity Bank1.961.960.000.0160.040122.52.04% 12.408.69Cable Bahamas8.758.750.001.0500.3108.33.54% 2.852.35Colina Holdings2.552.550.001.0310.0402.51.57% 7.005.80Commonwealth Bank (S1)6.966.960.004,0000.4880.26014.33.74% 2.861.90Consolidated Water BDRs2.052.070.020.1110.04518.62.17% 2 .541.40Doctor's Hospital1.401.400.000.1070.11013.17.86% 5.994.75Famguard4.754.750.000.3570.24013.35.05% 9.105.65Finco6.786.780.000.6820.0009.90.00% 11.408.75FirstCaribbean Bank8.768.760.000.4940.35017.74.00% 6.004.57Focol (S)5.505.500.000.4520.16012.22.91% 1.001.00Focol Class B Preference1.001.000.000.0000.000N/M0.00% 7.305.50ICD Utilities7.307.300.000.0120.240608.33.29% 10.509.80J. S. Johnson9.829.820.000.8590.64011.46.52% 10.0010.00Premier Real Estate10.0010.000.001.2070.2008.32.00% 52wk-Hi52wk-LowSecuritySymbolLast SaleChangeDaily Vol. 9 9.4699.46Bahamas Note 6.95 (2029BAH2999.460.00 100.00100.00Fidelity Bank Note 17 (Series A) +FBB17100.000.00 100.00100.00Fidelity Bank Note 22 (Series B) +FBB22100.000.00 100.00100.00Fidelity Bank Note 13 (Series C) +FBB13100.000.00 100.00100.00Fidelity Bank Note 15 (Series D) +FBB15100.000.00 52wkHi 52wkLow Symbol Bid$ Ask$ LastPrice DailyVol EPS$ Div$ P/E Yield FINDEX: YEAR END 2008 -12.31%30 May 2013 20 November 2029M ONDAY, 18 APRIL 2011BISX ALL SHARE INDEX: CLOSE 1,440.10 | CHG 4.06 | %CHG 0.28 | YTD -59.41 | YTD % -3.96BISX LISTED DEBT SECURITIES (Bonds trade on a Percentage Pricing basis)Maturity 19 October 2017 7%RoyalFidelity Merchant Bank & Trust Ltd. (Over-The-Counter Securities)29 May 2015 W WW.BISXBAHAMAS.COM | TELEPHONE: 242-677-BISX (2479) | FACSIMILE: 242-323-23201 9 October 2022 Prime + 1.75% P rime + 1.75% 6.95%BISX LISTED & TRADED SECURITIES AS OF:7% Interest 52wk Hi 52wk Low Symbol Bid $ Ask $ Last Price Daily Vol EPS $ Div $ P/E Yield 10.065.01Bahamas SupermarketsN/AN/A14.00-2.9450.000N/M0.00% 0 .550.40RND Holdings0.350.400.550.0010.000256.60.00% 41.0029.00ABDAB30.1331.5929.004.5400.0009.030.00% 0.550.40RND Holdings0.450.550.550.0020.000261.900.00% 52wk-Hi52wk-LowFund NameNAVYTD%Last 12 Months %NAV 3MTH 1.54871.4525CFAL Bond Fund1.54871.48%6.06%1.526164 2.98142.8300CFAL MSI Preferred Fund2.98141.15%2.40%2.947425 1.59201.5141CFAL Money Market Fund1.59201.14%4.53%1.574964 3.20252.8522Royal Fidelity Bahamas G & I Fund2.7049-0.56%-15.54% 13.638813.0484Royal Fidelity Prime Income Fund13.50161.08%0.02% 115.7622101.6693CFAL Global Bond Fund115.76229.58%9.58%114.368369 111.469799.4177CFAL Global Equity Fund111.469711.32%11.32%106.552835 1.14651.0000FG Financial Preferred Income Fund1.14655.20%5.20% 1.11851.0000FG Financial Growth Fund1.11854.73%4.73% 1.14911.0000FG Financial Diversified Fund1.14915.35%5.35% 9.99529.1005Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 19.99521.51%6.08% 11.217310.0000Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 211.21731.50%6.41% 10.42889.1708Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 310.42884.03%4.29% 8.45104.8105Royal Fidelity Int'l Fund Equities Sub Fund8.55591.88%8.41% BISX ALL SHARE INDEX 19 Dec 02 = 1,000.00YIELD last 12 month dividends divided by closing price 52wk-Hi Highest closing price in last 52 weeksBid $ Buying price of Colina and Fidelity 52wk-Low Lowest closing price in last 52 weeksAsk $ Selling price of Colina and fidelity Previous Close Previous day's weighted price for daily volumeLast Price Last traded over-the-counter price Today's Close Current day's weighted price for daily volumeWeekly Vol. Trading volume of the prior week Change Change in closing price from day to dayEPS $ A company's reported earnings per share for the last 12 mths Daily Vol. Number of total shares traded todayNAV Net Asset Value DIV $ Dividends per share paid in the last 12 monthsN/MNot Meaningful P/E Closing price divided by the last 12 month earningsFINDEX The Fidelity Bahamas Stock Index. January 1, 1994 = 100 (S) 4-for-1 Stock Split Effective Date 8/8/2007 (S1) 3-for-1 Stock Split Effective Date 7/11/200731-Mar-11 31-Mar-11 109.392860 100.183340 31-Dec-10 31-Dec-10 NAV 6MTH 1.505557 2.918697 1.555464TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | FG CAPITAL MARKETS 242-396-4000 | COLONIAL 242-502-752531-Mar-11 31-Dec-10 31-Mar-11 1-Apr-11 31-Jan-11MARKET TERMS31-Dec-10 31-Mar-11CFAL Securities Ltd. (Over-The-Counter Securities)31-Mar-11BISX Listed Mutual FundsNAV Date 31-Mar-11 31-Dec-10 -RXUQDOLVP/LWHUDWXUH*U 5HOLJLRXV.QRZOHGJH%LEOH*U 0DWK*U 3K\VLFV*U $JULFXOWXUH*U 7HFKQLFDO'UDZLQJ*U $FFRXQWV&RPPHUFH(FRQRPLFV*U 3K\VLFDO(GXFDWLRQ*U SDQLVK*U *HRJUDSK\+LVWRU\*U &KHPLVWU\ %XVLQHVVWXGLHV*U +HDOWKFLHQFH*U *HQHUDOFLHQFH*U &RPSXWHUWXGLHV*U 0XVLF*U %LRORJ\*U /DQJXDJH$UWV/LWHUDWXUH*U $UW&UDIW*U )RRG 1XWULWLRQ*U &ORWKLQJ&RQVWUXFWLRQ*U 6RFLDOWXGLHV*U +RPH(FRQRPLFV*U$SSOLFDQWVPXVW$f %H D SUDFWLFLQJERUQDJDLQ&KULVWLDQZKRLV ZLOOLQJWRVXEVFULEHWRWKHWDWHPHQWRI)DLWKRI 7HPSOH&KULVWLDQFKRRO %f +DYHD%DFKHORUV'HJUHHLQ(GXFDWLRQRUKLJKHU IURPDUHFRJQL]HG&ROOHJHRUQLYHUVLW\LQWKHDUHDRI VSHFLDOL]DWLRQ &f+DYHDYDOLG7HDFKHUV&HUWLFDWHRU'LSORPD 'f+DYHDWOHDVWWZR\HDUVWHDFKLQJH[SHULHQFH,QWKH UHOHYDQWVXEMHFWDUHDZLWKH[FHOOHQWFRPPXQLFDWLRQ VNLOOV (f $SSOLFDQWVPXVWKDYHWKHDELOLW\WRSUHSDUHVWXGHQWV IRUDOOH[DPLQDWLRQVWRWKH%-&%*&6(OHYHOV )f%HZLOOLQJWRSDUWLFLSDWHLQWKHKLJKVFKRROVH[WUD FXUULFXODUSURJUDPPHV $SSOLFDWLRQPXVWEHSLFNHGXSDWWKH+LJK6FKRRO2IFH RQ6KLUOH\6WUHHWDQGEHUHWXUQHGZLWKIXOOFXUULFXOXP YLWDHUHFHQWFRORXUHGSKRWRJUDSKDQGWKUHHUHIHUHQFHV0UHLO+DPLOWRQ 7KHULQFLSDO 7HPSOH&KULVWLDQ+LJKFKRRO 3 1DVVDX%DKDPDV'HDGOLQHIRUDSSOLFDWLRQLVD\WK 0(5/$1'(2'(/86RI 6($1$66$8%$+$0$6 As economy gains strength, Fed weighs what's next A look at economic developments and activity in major stock markets around the world Monday: ___ T OKYO Rising oil prices and anticipation that China might tighten monetary policy yet again to combat inflation kept Asian stock markets in check. Japan's Nikkei 225 index closed 0.1 percent lower, China's Shanghai Composite Index fell 1.5 percent but South Korea's Kospi rose 0.8 percent. Markets in Australia, Hong Kong and Europe remained closed for the Easter holiday. ___ TOKYO Toyota's car production in Japan plummeted a staggering 62.7 percent in March due to a parts supply crunch following a massive earthquake and tsunami. Toyota Motor Corp., the world's top-selling automaker last year, said its domestic production in March was 129,491 vehicles, the lowest level since 1976 when Toyota began maintaining production figures. Honda Motor Co. said its domestic production in March plunged 62.9 percent to 34,754 vehicles. Nissan Motor Co. said its production in Japan dropped 52.4 percent to 47,590 vehicles. The magnitude-9.0 earthquake and tsunami on March 11 destroyed many factories in northeastern Japan, causing severe parts shortages for Toyota and other automakers. ___ MADRID Tourist numbers for economically ailing Spain rose 2.9 percent in the first quarter, with 9 million visitors from abroad. ___ BAGHDAD Iraq will auction off 12 mainly gas exploration blocs during a January 2012 bidding round as the country pushes ahead with efforts to beef up its energy sector, the oil minister said. The January auction will be Iraq's fourth bidding round on its energy assets since the overthrow of Saddam Hussein in 2003. The country's oil and gas sector is struggling to overcome years of neglect and violence by seeking international investment to exploit its below-ground riches. GLOBAL ECONOMIC NEWS associated Press President Barack Obama